Northern Continental Resources Inc.
TSX VENTURE : NCR

Northern Continental Resources Inc.

December 04, 2007 18:26 ET

Northern Continental Warns U.S. Shareholders About Hathor's Hostile Takeover Bid

VANCOUVER, BRITISH COLUMBIA--(Marketwire - Dec. 4, 2007) - Northern Continental Resources Inc. (TSX VENTURE:NCR) has mailed an advisory to its U.S. shareholders who own approximately 26 percent of the company's outstanding common stock. Northern Continental is subject to a hostile takeover bid proposed by Hathor Exploration Ltd. (TSX VENTURE:HAT).

The following is the full text of the advisory mailed to U.S. shareholders of Northern Continental:

WARNING

TO U.S. SHAREHOLDERS OF

NORTHERN CONTINENTAL RESOURCES INC.

Hathor Explorations's Hostile Takeover Bid discriminates against NCR's U.S. Shareholders:

"As a result of restrictions under United States securities laws, U.S. shareholders wishing to accept the offer shall not be entitled to receive Hathor shares in connection with the offer.

"Instead, any such shares will be issued and delivered to the depositary on behalf of the U.S. shareholders and Hathor shall cause such shares to be sold on their behalf and the net cash proceeds (after paying brokerage commissions and other expenses) will be remitted to such U.S. shareholders in Canadian dollars."

Hathor Exploration News Release

November 19, 2007

DIRECTORS' RECOMMENDATION

THE BOARD OF DIRECTORS UNANIMOUSLY RECOMMENDS THAT NORTHERN CONTINENTAL SHAREHOLDERS REJECT THE OFFER AND NOT TENDER THEIR NORTHERN CONTINENTAL SHARES TO THE OFFER.

If you have already tendered Northern Continental Shares to the Offer, you should WITHDRAW those Northern Continental Shares using the Withdrawal Notice set out in Schedule C to this Directors' Circular.

IF YOU HAVE NOT TENDERED THERE IS NO NEED FOR IMMEDIATE ACTION

There is no need for Northern Continental Shareholders to do anything immediately. The Offer is currently open until January 3, 2008. Northern Continental's Board of Directors intends to communicate further with Northern Continental Shareholders prior to the expiry of the Offer with respect to any material matters that should arise.

Northern Continental shareholders are urged to read the Directors' Circular and the President's Letter to Shareholders posted on the company's website at www.northerncontinental.ca. They are also available on SEDAR's website at www.sedar.com.

NORTHERN CONTINENTAL RESOURCES INC.

Alan Crawford, President

The TSX Venture Exchange has not reviewed, and does not accept responsibility for the adequacy or accuracy of the contents of this news release.

Contact Information

  • Northern Continental Resources Inc.
    Douglas Hickey
    VP Corporate Communications
    (604) 685-9255 or Toll Free: 1-800-449-4435
    Website: www.northerncontinental.ca